The U.S. Attorney’s Office for the Western District of Washington announced Friday that Stephen Baird, 69, former CEO of S-Ray, Inc., is now wanted after failing to appear for sentencing in U.S. District Court in Seattle
According to U.S. Attorney Tessa M. Gorman. Baird, previously of Bainbridge Island, Washington, admitted to defrauding investors by making false claims about S-Ray’s product development and falsely asserting FDA approval for a dental device.
Baird, who was indicted in February 2023 and pleaded guilty in May 2024, now faces additional potential prison time for violating his appearance bond. Judge Richard A. Jones issued a warrant for his arrest, the department confirmed.
The U.S. Attorney’s Office also noted that Baird’s scheme, initiated in 2012, defrauded approximately 200 investors of $10.75 million.
Baird allegedly diverted more than $5.7 million for personal expenses, including the purchase of a luxury car and a waterfront home on Bainbridge Island, according to court documents.